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Union Township board authorizes reverse auctions to seek lower energy rates
Summary
The board authorized use of EMEX reverse auctions to procure natural gas and electricity and set price thresholds that would permit automatic contract awards if met; Business Administrator Eva Preuett was authorized to execute winning contracts.
The Union Township Board of Education on Feb. 27 authorized the use of an EMEX reverse auction to procure natural gas and electricity for district facilities and set explicit price thresholds at which the district may award contracts.
For natural gas the board set thresholds of $0.7683 per therm (12‑month), $0.7325 per therm (18‑month) and $0.7653 per therm (24‑month). For electricity the thresholds were $0.12694 per kWh (12‑month), $0.12555 per kWh (18‑month) and $0.12725 per kWh (24‑month). The resolution names EMEX, LLC (a division of Mantis Innovation) as the online auction service the district will use and specifies that EMEX is compensated by the supplier awarded the contract.
The board authorized Business Administrator Eva Preuett to execute any contract proffered by a winning supplier if the auction achieves the stated thresholds. The auction and authorization are consistent with the Local Government Electronic Procurement Act (P.L. 2018, c.156). The minutes record the board’s motion and authorization, but the results of any auction or contract awards were not part of the Feb. 27 minutes.
